The price of DEGEN rose almost 100,000% from $0.000023 to above $0.02 within 3 months since its launch, showing very high volatility for a new altcoin.
Degen (DEGEN) crypto asset is now listed on INDODAX on the Base network.
Interested in Degen (DEGEN) and how to buy it? Learn more before investing by reading below!
About Degen (DEGEN)
DEGEN was originally introduced to reward participants in the Warpcast degen channel, but it has now become a cornerstone of the Farcaster ecosystem.
Farcaster is an open protocol on Optimism that has various applications, with Warpcast emerging as the most popular. Warpcast resembles Twitter, allowing users to post, follow others, and engage with content.
DEGEN has revolutionized the Farcaster landscape by introducing a points system where users earn tokens based on engagement metrics. This innovative approach bridges the gap between online contributions and real-world value.
Challenges, Opportunities, and Utilities
In its development, DEGEN’s advantages include:
- An innovative reward system based on tipping and points allocation according to user engagement levels. Users who receive tips can get points and DEGEN airdrops, fostering more community involvement.
- Flexible usage of the DEGEN token not just for tipping on social media, but also for transaction fee payments on apps like Drakula.
- The launch of its own Degen Chain layer-3 blockchain, opening up DEGEN usage across various apps built on the chain, like DApps, games, etc. This expands the token’s scope of utilization.
- A growing community and ecosystem centered around the Degen channel on Farcaster as well as the Degen Chain. This strengthens DEGEN’s role as a true community currency.
The utilization of DEGEN includes:
- Used for staking and providing liquidity on decentralized finance (DeFi) platforms.
- Functions as a membership token for exclusive communities or platforms in the Base social media space.
- Grants access to premium features through token ownership.
Crypto Asset Ranking Information
As of April 22, 2024, the CoinMarketCap ranking of Degen (DEGEN) is #220, with a market cap of USD 498,049,594. It has a circulating supply of 14,179,608,879 DEGEN and a maximum supply of 36,965,935,954 DEGEN.
How to Buy Degen (DEGEN) on INDODAX
Now that you’ve discovered more about Degen (DEGEN), you can start investing in Degen (DEGEN) easily and securely on INDODAX.
You can access INDODAX via the INDODAX Mobile App, which can be downloaded from the App Store or Google Play Store, or by visiting the INDODAX website.
To buy Degen (DEGEN) crypto asset on INDODAX, follow the steps below:
- Register on INDODAX if you are not yet an INDODAX Member or login to your INDODAX account
- Then, deposit by reading how to make a deposit below
- After making a successful deposit and the balance has been credited to your INDODAX account, visit the INDODAX market
- Search for DEGEN in the IDR market, and click to visit the crypto asset page
- On the crypto asset page, enter the balance and desired DEGEN purchase price, or buy instantly at the current price
- Next, you should wait for the price to increase for some time
- Once the price increases, your assets can be sold at a higher price with the Instant method
- If you use the Limit method to sell, make sure to place a sell order after purchasing the asset and enter a higher sell number
INDODAX also offers other features than trading, such as INDODAX Earn which allows you to lock crypto assets and earn interest rewards, and INDODAX OTC for large crypto transactions in a more personalized and secure way.
Let’s invest in Degen (DEGEN) on INDODAX now!
